(Newsroom America) -- Obama benefactor and billionaire investment guru Warren Buffett's overall net worth increased by about $154 million following the announcement of a mortgage settlement deal with Bank of America by the administration Friday, according to a published report.

Buffett, the report said, saw the value of his shares in BoA increase by about $154 million following the announcement of the deal, which sent the bank's stock to new highs.

"Buffett invested $5 billion in Bank of America (BofA) on Aug. 25, 2011. As part of his investment deal, Buffett gained warrants that allow him to buy 700 million shares of Bank of America stock at a strike price of $7.14 a share," said the report by The Washington Free Beacon, an online news watchdog publication.

"However, on Dec. 19, 2011, it was reported that Buffett was $1.5 billion underwater on his stock warrants, with shares of BofA stock trading at $4.94. But on Thursday, after President Obama personally announced the details of the settlement, BofA stock closed at $8.13 a share. The stock opened Friday morning at $8.31 and reached as high as $8.35 a share," said the report.

That means if Buffett exercised his warrants Friday morning, he would have made a net profit of about $847 million, of which $154 million would have been related to the mortgage deal, the report said.

The BoA deal is not the first time Buffett, a longtime Obama contributor and supporter, has benefited from administration policy.